India-US trade deal: Union Commerce Minister Piyush Goyal has said that the trade deal between the America and India is ‘moving towards closure’.
“We are actively engaged. We never do any deal with a deadline in mind,” Goyal told Hindustan Times..
He further described the anticipated arrangement as “positive” and a “good deal.”
Trade discussions between New Delhi and Washington have progressed since early last year, though obstacle emerged in August when US President Donald Trump imposed a substantial 50% tariff on Indian imports.
Goyal stated that when both sides are satisfied, the date will be announced.
The Commerce Minister further said: “I don’t think there are any sticky issues left to be resolved. We can now look at moving towards closure.”
‘Close Friend’
During the Davos gathering on January 21, President Trump voiced optimism regarding the India-US Bilateral Trade Agreement (BTA). He asserted that both nations would secure a strong outcome while commending Prime Minister Narendra Modi as a close friend and an esteemed statesman. These remarks followed Trump’s presentation at the World Economic Forum’s 56th Annual Meeting.
“I have great respect for your Prime Minister. He’s a fantastic man and a friend of mine, and we are going to have a good deal,” Trump said.
The BTA, officially outlined in February following high-level mandates from both governments, aims to surge mutual trade from today’s $191 billion to a target of $500 billion by 2030.
These negotiations were initially introduced during Modi’s trip to Washington in February 2025.
Concurrently, US Trade Representative Jamieson Greer lauded the India-EU commercial treaty on Tuesday, suggesting India secured highly favorable terms.
On the deals with the UK and EU, Goyal said: “The UK one was a fantastic deal. This EU FTA is also equally good. However, very rarely can you just emulate one deal because the conditions, economy size, and interests of each country matter. Each deal stands on its own legs.”
On January 12, Sergio Gor, the US envoy to India, emphasized that no country possesses more strategic value to Washington than India, noting that both administrations are striving to conclude a major trade accord.
Genuine alliances may face friction, yet they eventually reach a consensus, Gor noted, citing the personal bond between Modi and Trump.
“Real friends can disagree but always resolve their differences in the end,” Gor said.
“India is the world’s largest nation. So it’s not an easy task to get this across the finish line, but we are determined to get there,” Gor said.
“And while trade is very important for our relationship, we will continue to work closely together on other very important areas such as security, counter-terrorism, energy, technology, education, and health,” Gor added.